PGW feeling effects of rural sector slowdown

Forecast El Niño weather patterns are a concern for farmers. (Image: Fonterra)

Wed, 25 Oct 2023

PGG Wrightson is feeling the flow-on effects of the economic challenges facing the rural sector. The NZX-listed rural services firm issued guidance on Wednesday ahead of its annual meeting being held in Christchurch - forecasting operating earnings before interest, tax, depreciation and amortisation (Ebitda) of around $52m.That’s down from the operating Ebitda of $61.2m it reported in the 12 months to June 30, 2023.PGW noted that trading in the first quarter was “back” on last year, influenced by macroecono...

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